INDUSTRY leaders have welcomed the prospect of 700 new hi-tech jobs as part of a a £150 million redevelopment project.

The designs for the University of Brighton's Preston Barracks scheme have gone on public display and industry figures said that the city's £1 billion digital economy had much more room to grow over the coming decade with the emergence of other hi-tech centres.

Steve Parker, of Hove Digital firm Free The Trees, said new business space like in the new scheme was vital to help the sector expand.

He said: "The potential is limitless in the digital sector.

"Its up to the residents to make the most of this growing sector and ride the crest of this wave."

"There's still plenty more potential in the industry, it has evolved so much in ten years and will evolve so much over the next ten years."

Residents can finally see draft plans for the long-awaited redevelopment of Preston Barracks in Brighton, which is predicted to raise more than £500 million for the city economy in the next decade.

The redevelopment over three sites measuring ten acres will include a new centre for hi-tech manufacturing start-up companies, 1,300 student rooms, 350 homes and shops, cafes and workshops.

Buildings on the Preston Barracks site off Lewes Road will reach up to 18 storeys high while buildings on the University of Brighton Mithras House site will be up to 15 storeys.

Planners said that a “high density of accommodation” has been requested as part of the city council’s development brief and buildings have been designed to limit the impact on neighbouring properties.

It is estimated that the development will create 1,065 new jobs, including 280 during construction, with 710 at the new Central Research Laboratory and additional retail and building management roles.

Central to the project will be a 50,000sq ft central research laboratory acting as an incubator centre for hi-tech and design-led manufacturing start-up companies and entrepreneurs.

A new home for the university’s Brighton Business School as well as teaching and learning facilities are also proposed.

The homes will be built around newly created green public spaces on the Preston Barracks site, built in the 18th century and bought from the Ministry of Defence by the council in 2002, while the new student bedrooms will be built on both Preston Barracks and the Mithras House car park.

The project also proposes improved transport links to the Lewes Road and Moulsecoomb Railway Station, a multi-storey university car park and additional car parking for new residential and business uses.

Council leader, councillor Warren Morgan, said: “Preston Barracks has been on the drawing board for 14 years and it is a key site for new affordable housing for local people, jobs and growth.

“It’s great that we are working in partnership with the developer U+I and the University of Brighton to drive forward this much-needed regeneration.”

Digital leaders said the city's £1 billion-a-year digital industry had the potential to double.

Jon Pratty, chairman at Brighton Digital Festival said: "Councillor Tom Bewick, council member for education and skills, recently called for the city to be ambitious and double the value of its creative industry cluster from £1bn to £2bn in a matter of years.

"That's a big call, but if the cluster does double in size, exciting opportunities for networking, collaboration and growth of new businesses are in prospect.

"We've got, in the city, right now, some of the UK's best VR developers, Internet of Things planners, and an exciting, emerging 5G pilot scheme to join us all together, wherever we are. "

Phil Jones, managing director of Wired Sussex said: "The digital sector in Brighton is one of the most successful, collaborative and exciting in the UK.

"It is now worth over £1bn per annum to the city's economy.

"To sustain and grow it, we need a step change in resources and infrastructure. Preston Barracks is a vital part of that process - delivering workspace, talent and innovation support."

A public exhibition will be held at Preston Barracks from noon to 8pm today [Friday] and 10am to 4pm tomorrow and then at Churchill Square next Saturday and Sunday.

A planning application for the regeneration project, which has been more than 14 years in the pipeline, is expected to be submitted later this year.

It is hoped planning consent could be granted by the end of the year allowing the first phase of construction to begin next year and be completed by 2020.

For more information visit momentumlewesroad.com.